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MN | Jon, I know you are looking to make the bull case but...
World ending stocks are going to grow this year. SA is going to be a net positive vs last year. China is going to import less beans (slow economy, ASF.) This is going to weigh on futures.
Because of last year the US is holding all of the ending sticks (basically) this will weigh on basis.
And the new crop c/b ratio is at 2.4, every day we hold there (especially while we set the spring price) is keeping bean acres. SO, unless we get a very serious weather issue in the US beans are going to struggle to rally. Oh, also, basically zero amount in the production area going into this year on the drought monitor.
Edited by mn_feeder 2/1/2019 08:35
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US Soybean Exports.
